what is our source of competitive advantage?
That must be retained and improved. This results in a differ went equation for each product. So, in which areas do you see Philips having a clear competitive advantage today? Let me answer that in a different way. We always have a young, state-of-the art advanced product range, but increasingly, branding and marketing have become sources of competitive advantage. Thirty years ago, when you made a product, you could also sell it, because the technologies were not there to provide all the products that people might have wanted. Today, however, there is the technology to make almost anything we can think of. So, our source of competitive advantage moved to branding and marketing. However, you need the combination of innovation, marketing and branding. What is the danger of outsourcing your competitive advantage? Is it the cheap labor that is lacking in quality? No. Your competitive advantage is, one could say, embedded in the manufacturing process. If you outsource your competitive advant
